Goodwill Industries Leases Industrial Property In Santa Ana To 3601 Pendleton LLC
3601 W Pendleton Ave, Santa Ana, CA...
Building Size
31,206 SF
Asset Type
Industrial
Closing
May 11, 2021
AI
The industrial building at 3601 West Pendleton Ave. in Santa Ana, spanning 31,206 square feet, has been leased to Goodwill Industries of Orange County. The property, recently renovated, will serve as a long-term solution for Goodwill's trailer storage and donated goods sorting needs. In light of the significant increase in donations due to COVID-19, this location adjacent to another Goodwill facility offers an ideal space for their operations.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Tenant: Goodwill Industries
- Landlord: 3601 Pendleton LLC
- Square Feet: 31,206
- Tenant's Rep: Matt Christensen (JLL)
- Landlord's Rep: Morgan Hill (Stos Partners)
Matt Christensen of Lee & Associates-Newport Beach represented Goodwill Industries in the lease agreement, while Morgan Hill of Voit Commercial represented the landlord, 3601 Pendleton LLC. The relocation to this newly renovated facility aligns with Goodwill's strategic goals and operational needs in response to the changing landscape due to COVID-19 and the rezoning of their previous facility.
Players
Santa Ana Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93